LOS ANGELES, California (Hollywood Reporter) -- Hoping "Grease" lightning can strike a third time, Paramount Pictures is drawing up plans for "Grease 3," a continuation of the hit musical franchise.
The plan is to set the new project in the late-'70s, feature plenty of disco music and have the story evolve around the children of the original characters. John Travolta and Olivia Newton-John, stars of the 1978 original, have already been given a heads-up that their services will be sought once a script is completed. A search for writers is underway.
Didi Conn, who played Frenchie, is serving as an executive producer. She is said to have been instrumental in generating the studio's current enthusiasm for putting together a new installment of the film.
At the studio's DVD release party for "Grease" in the fall, sources said Conn approached Paramount chief Sherry Lansing after Travolta and Newton-John wowed partygoers with the musical number "You're The One That I Want."
The original "Grease" spawned a sequel four years later, "Grease 2." Its failure was ascribed by some observers to the introduction of a new cast of characters, headed by Maxwell Caulfield and Michelle Pfeiffer.
In developing "Grease 3," the producers hope to avoid that problem by bringing back the old gang from the first installment while also introducing new characters.